![「DDC] Outsourcing Vietnamese Accounting Services・ Tax Consulting・ Legal Consulting For FDis・Setting up FDIs in Vietnam・ Auditing・ Human Resources・ Market/Goods Investigation](http://japanvietnam.com.vn/wp-content/uploads/2021/06/cropped-Capture1-1.jpg)
The Ministry of Finance has said it will cut sharply some of the business conditions under its management functions, aiming to improve the business environment and especially the latest requirement from the government to cut 50% reduction of business conditions before 31/10. The Ministry of Finance cut more than half the business conditions that were unprecedented in the ministry as well as many other ministries.
Specifically, the Ministry of Finance proposes to cut 51.4% of total investment conditions under the Ministry of Finance’s management functions; To amend and supplement 16 decrees covering a number of fields, including insurance business, securities trading, price appraisal, customs, accounting, auditing, lottery business and prize gaming. for foreigners, casino business, betting business, credit rating service, voluntary retirement fund management services.Following the direction of the Prime Minister in Official Letter No. 174 / TTg-KSTT dated February 2, 1818, priority is given to the formulation of decrees on amendments and supplements to decrees in shortened order and procedures, The Ministry of Finance is urgently preparing a Decree amending and supplementing a number of decrees stipulating the conditions for business investment. Investment and business conditions within the scope of State management of the Ministry of Finance.
Accordingly, in the accounting sector, the Ministry of Finance intends to abolish three conditions for the provision of cross-border accounting services in Article 30 of Decree No. 174/2016 / ND-CP. Accounting business at the place where the foreign enterprise is headquartered; The conditions for purchasing professional liability insurance for accountants practicing in Vietnam; Conditions not to be sanctioned for administrative violations in the provision of cross-border accounting services in Vietnam for a period of 12 months. For the auditing service business, the Ministry of Finance shall abrogate the conditions in Clause 2, Article 6 of Decree No. 17/2012 / ND-CP, whereby the representative of the capital contribution of the auditing limited liability company Need to be a practicing auditor.
For conditions of accredited auditing organizations for public-interest units: To reduce the auditing organization’s audit duration for at least 36 months to 24 months; Eliminate conditions requiring enterprises to audit at least 20 units of public interest annually; Eliminate the requirements for quality control systems, carry out professional liability insurance during the licensing but switch to post-inspection.
For the insurance business conditions, the Ministry of Finance shall abolish the conditions that an insurance enterprise, a foreign branch or an insurance brokerage enterprise must meet upon its establishment as prescribed in the charter of the company; Have a regulation on organization and operation in accordance with the provisions of this Decree and other relevant provisions of law.
For Vietnamese organizations to set up insurance limited liability companies, the draft decree repealing the condition that enterprises operating in the fields of finance, banking and insurance, to expand the subjects are the Enterprises in other fields may also join in setting up insurance enterprises. To abolish the conditions on experience for insurance agents.
In the securities sector, the Ministry of Finance plans to reduce the minimum charter capital requirement for securities dealing from a minimum of 100 billion dong to 50 billion dong. To reduce the conditions on the number of years of experience with the General Director of a securities business institution in the direction of the number of years of experience working in the finance, banking or securities sections or at the finance section, accounting, investment in other enterprises and the number of years of management experience has decreased from a minimum of 03 years to 2 years.
vietnamnet.vn/vn/kinh-doanh/dau-tu/bo-tai-chinh-cat-giam-manh-tay-mot-so-dieu-kien-kinh-doanh-469719.html